A number of my friends are entrepreneurs or business owners. As a result, we frequently discuss issues that arise in our various businesses whenever we get together for breakfast or lunch.
One of the problems that comes up fairly often is spousal interference in the business. In fact, I’ve been surprised how often this arises as I talk to my friends. The common thread is either a spouse that doesn’t work at all, or is not active in the business, but who exercises some form of veto power in the business.
This is a frustrating issue because my friends hear some version of “no” when they discuss things they’d like to do in the business with their spouse.
Most people are not cut out to be an entrepreneur or even a business owner. They don’t have the knowledge, they don’t have the experience, and they don’t have the guts. Because of this, they are incompetent to give advice or approval to someone who does in my opinion. Entrepreneurs are by nature risk takers. Employees or non-working spouses are not – by definition. So, they have no business with veto power.
The problem is that my business owner friends are married and want to stay that way! They want to continue to grow their businesses. They are on the horns of a dilemma. What should they do?
I think they should limit what they tell their spouses. I’m not suggesting they be dishonest, but I don’t believe in giving people information they aren’t prepared to handle. That just scares them. Why scare your spouse? When you do, they are miserable because they’re scared, and the entrepreneur is miserable because she’s stuck.
It’s far better to share business information with your employees, your banker, and your spouse on a “need to know” basis! What do you think?